SEC Form 4 · accession 0000078460-15-000029
PIEDMONT NATURAL GAS CO INC · PNY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Thomas E Skains
Officer — Chairman, President and CEO · Director
Period of report
Dec 15, 2015
Accepted (ET)
Dec 17, 2015 · 4:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000078460
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F3 | Dec 15, 2015 | A | 34,843 | $0.00 | A | 317,086 | D | |
| Common StockF2,F3,F5,F6 | Dec 15, 2015 | F | 28,538 | $0.00 | A | 288,548 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Issued as accelerated vesting of 2016 LTIP Award and 2017 LTIP Award under registrant's Incentive Compensation Plan. These shares are restricted, subject to full or partial cancellation under certain circumstances and for such period as described in the form of Share Repayment Agreement filed by the registrant in a Form 8-K on December 16, 2015.
- F2Shares were valued at closing price of $56.85 on December 14, 2015, which was the day prior to vesting.
- F3This number does not include 2,990.57 shares that are held indirectly by Mr. Skains in his 401(k) account.
- F4Withheld to satisfy tax withholding obligations on (1) December 15, 2015 vesting of 30% of Mr. Skains' previously reported Retention Award equity units, plus 3,024 shares representing dividends that had accrued on such equity units and converted into additional equity units and (2) accelerated vesting of the remaining 50% of his Retention Award equity units (plus 5,040 shares representing dividends that had accrued on such equity units and converted into additional equity units) that would otherwise have vested on December 15, 2016 if Mr. Skains was an employee of the registrant on such date.
- F5Includes 59,824 equity units issued under a previously reported Retention Award, plus accrued dividends. The vested awards are payable in the form of one share of registrant's common stock per equity unit.
- F6Includes 19,554 shares of restricted common stock that are subject to full or partial cancellation under certain circumstances and for such period as described in the form of Share Repayment Agreement between the registrant and the reporting person filed by the registrant in a Form 8-K on December 16, 2015.